The XJO again closed sharply lower on Wednesday Spread was wide,...

The XJO again closed sharply lower on Wednesday
Spread was wide, volume remained high, and the close was poor (down near the day's low)
There was no sign of a recovery or reversal so far as price sliced lower for a second day, eventually closing well below ~5800 and making the inverse Head and Shoulders pattern so many are watching less likely to complete, but is still valid  (keep in mind the XJO is well known for overshooting its levels - probably due to the domination the 'Big Four Banks, BHP, RIO and Telstra have in the Index).
A reversal is still possible, just less likely.....so there is now an increased chance the Index will re-test the recent lows for strength.


cheers